Investment In Unconsolidated Affiliate

6 Months Ended

Jun. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Affiliate

LSV Asset Management

The Company has an investment in LSV Asset Management (LSV), a registered investment advisor that provides investment advisory services primarily to institutions, including pension plans and investment companies. LSV is currently an investment sub-advisor for a limited number of SEI-sponsored investment products. The Company's partnership interest in LSV as of June 30, 2018 was 38.9 percent. The Company accounts for its interest in LSV using the equity method because of its less than 50 percent ownership. The Company’s interest in the net assets of LSV is reflected in Investment in unconsolidated

affiliate on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations.

At June 30, 2018, the Company’s total investment in LSV was $51,810. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $89,362 and $75,142 in the six months ended June 30, 2018 and 2017, respectively. As such, the Company considers these distribution payments as returns on investment rather than returns of the Company's original investment in LSV and has therefore classified the associated cash inflows as an operating activity on the Consolidated Statements of Cash Flows.

The Company’s proportionate share in the earnings of LSV was $41,073 and $36,315 during the three months ended June 30, 2018 and 2017, respectively. During the six months ended June 30, 2018 and 2017, the Company’s proportionate share in the earnings of LSV was $81,680 and $69,880, respectively.

These tables contain condensed financial information of LSV:



Condensed Statement of Operations	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenues	$	132,111	$	119,320	$	263,829	$	229,273
Net income	105,605		93,372		210,011		179,587



Condensed Balance Sheets	June 30, 2018		December 31, 2017
Current assets	$	153,014	$	155,239
Non-current assets	1,520		1,407
Total assets	$	154,534	$	156,646

Current liabilities	$	63,594	$	46,486
Partners’ capital	90,940		110,160
Total liabilities and partners’ capital	$	154,534	$	156,646